Nigeria Senate President Calls for Review of Power Assets Sale

Nigeria’s senate president has called for the immediate review of power assets sold by the previous administration to private individuals.

“I think the time has come to review, and probably reverse this privatization because if we stay as it is today, for the next ten years there will be no power in Nigeria, as the situation is. So we need to be decisive about the power sector,” Ahmad Lawan, president of Nigeria’s senate said in an emailed statement.

The privatized firms have show that they have no capacity to provide power, Lawan said.

The lawmakers also called for an investigation into billions of naira given operators in the sector by the government since the firms were sold. It urged the government to suspend a planned electricity tariff increase that is to come into effect on July 1.

“The Discos have no capacity to supply us power. The Gencos have challenges too.

“It is not a good commentary that we should continue to give them money. They’re private businesses. We need to review this privatisation.

“Our committee needs to investigate trillions spent. That’s a lot of money.